Category: Uncategorized

Seniors should Balance Investment and their Own Resting Time

Seniors need to rest and that is the reason why they are given a retirement package. At the age of 65, rest is one of the most prioritized factors that should not be traded for anything else. As much as investments are good, you need to make sure that you balance your business activities with your personal life. You need to overwork or strain yourself in the name of trying to get profits out of your investment. Always remember that your health is very important that anything else and that investments are basically a pass time.

Always create a timetable for the whole week

In order to be able to balance between investments and your own personal life activities, you need to have a time table. It is through a timetable that you can follow what is expected of your strictly. Sometimes, we might be tempted to run after our investment to a point where were get fatigued both physically and mentally. You need to consider always that your retirement should be spend on investing a little and also enjoying your life. Stress should not be the first prioritized factor as all.

Get someone to be your right hand man

Considering that an investment is not something you can just wake up and do it single handedly, it is important to hire someone to do those things that you consider not an expert in. For example, if you are not good in accounting, then you need to get someone to help you with that. This can be your relative who took a course in accounting and this will make sure that accounting in business is taken care of. If such activities are stressful to you, then make sure that you get a right hand man to do the job for you.

Seniors should invest in Real Estate Partnership if they don’t Trust Working on their Own

When we talk about real estate, the first thing that comes to mind is houses for rent, ranches and plots of land. In that case, if you have just retired and maybe you have attained the age of 65, the best thing that you can do so as to make sure that your funds don’t go to waste is investing in real estate. Investing in real estate might become one of the most lucrative business for you basically because it is unique in its own sense. There are a number of benefits which can be accrued from investing in real estates if you are a senior.

Real estate investment is a less risky investment

You need to be aware of the fat the world is growing in terms of the size of population and when the world continuously grow, people will always look for a place to live build their houses and start a family. For instance, if you are investing in building houses and selling them, the best thing that you need to be proud of is the fact that you may accrue more than double the amount you invested in terms of capital. Real estate investment for seniors is also important as it is a less risky investment that you will always be sure of the return both in short an in the long run. What isn’t a risk is a medicare advantage plan found at www.medicareadvantage2019.org/ which takes care of health concerns.

Real estate investment is flexible

Seniors love an investment that is flexible. In this case, flexibility means that you can change from one line of business to another and still be assured of low risks. For example, if you have entered into a business where you buy and sell parcels of land, you can actually start buying and then building residential homes and still be assured of consistent profits just like you had anticipated.

It is easy to work in partnership

Considering that real estate is a very extensive line of business, seniors can actually partner with other parties so as to ensure swift progress in business. Take for instance a scenario where you are interested in buying a plot of land while another person is interested in developing that land. The best thing that a senior can do here is to buy a piece of land and then partner with someone else who will construct a house then you will jointly sell and share the income.

When it comes to Medicare supplement plans, some are so similar to one another, that you don´t really know which one of them to choose from, as they both offer pretty much the same thing. The Medicare supplement plan D offers the same benefits as the Medicare supplement plan L, but there is a catch!

What both cover

Both Medicare supplement plan D, as well as Medicare supplement plan L, will cover for the expenses for:

Health insurance for travelers, who are outside the U.S

Medicare part A deductible

Hospice care coinsurance and copayments, for those who are part of Medicare part A

The first three pints of blood (per year)

Copayments and coinsurance of Medicare part B

Hospital costs and copayments of Medicare part A

The catch is, that while Medicare supplement plan D covers these expenses fully, the Medicare supplement plan L has a limited coverage amount. These costs will only be covered up to a 75% by the Medicare supplement plan L:

Expenses for the first three pints of blood

Part B co-insurance expenses

Hospice co-insurance expenses

Co-insurance for skilled nursing facility

Part A deductible expenses

As this Medicare supplement plan covers only 75 % of the expenses, the premium rate for it will cost less too. Upon making a decision, you need to make sure to compare these benefits to your own personal needs. If you´re completely satisfied with having to pay 25% of the bill, but therefore less for premium rates every month, than a supplement plan L will be more than enough for you! If, however, you have frequent visits to health care providers, going the full insurance way might save you money in the long run. Instead of having to pay 25% each time you visit the doctor´s office, you can rather pay a higher premium rate each month, but therefore know that this will also be the only expense you will need to pay for.

Medicare supplement plans are all available only to those who are enrolled to Medicare part A or B first. So, whether you choose the Medicare supplement plan D or the Medicare supplement plan L, make sure to enroll to Medicare part A or B first. Also, check when your open enrollment period is. If it is soon, you might just want to wait for when it comes, before enrolling to a Medicare supplement plan. During your open enrollment period the premium rates will be as low as they get and it is guaranteed you won´t get better offers than during this time. For those who don´t know when it is, the open enrollment period starts on the fay when you turn 65 and lasts for up to 6 months after the day of your birthday. Once this period is gone, premium rates will go higher and health insurance companies might even deny you enrollment, due to possible health conditions. This is something that is not allowed either during open enrollment.

Congress has passed a new law that has a lot to do with the Medicare part B deductible. If you still haven´t heard about it, you might want to keep reading, as this new law might start affecting your health care insurance too!

Medicare Part B Deductible

If you are enrolled to a Medicare supplement plan that doesn´t cover the Medicare part B deductible, then you don´t have to worry. There will be no changes affecting you. The changes made will affect those, who are enrolled to Medicare supplement plans that cover for this expense. Why? Because the new law forbids health insurance companies to sell supplement plans that cover the part B deductible.

The Pro-Argument

This deductible is an annual amount of 183$. The reason why health insurance companies aren´t allowed to offer plans covering them, is due to the belief that this will help prevent people from overuse of the health system. If a supplement plan covers for all costs and the patient only needs to pay their premium rate, they might end up visiting the doctor´s office for small accidents, such as small cuts, or conditions that can also be healed at home, such as a harmless cold. With a cold, most know many home remedies to fight it and usually a cold goes away on its own after a couple of days, or up to a week. It is not really necessary to visit the doctor´s office as soon as we have a sore throat or start coughing a few times a day. It is exactly these cases that the law is trying to prevent. If the patients need to pay at least some amount, then they won´t visit the doctor´s office as often!

The Contra-Argument

Although this law has been passed, there were many who didn´t agree with it. Medicare supplement plans who covered (and still cover) the Medicare part B deductible, are also more expensive. So if a patient is already paying the most for a supplement plan, why shouldn´t he be free to make use of it and visit a professional whenever they want to?

All in all, this new law is coming and every health insurance company as well as their members will need to adjust to it. Two Medicare supplement plans will be affected: the Medicare supplement plan F and the Medicare supplement plan C. Both of these cover for the 183$ deductible, which is why starting January 2020, they will no longer be available for new members. The already existing members will be able to continue their use of these plans and their benefits. So, if you really wanted to be a part of the supplement plan F or C, make sure to enroll before the 1st of January, 2020. A good alternative to these plans is the Medicare supplement plan G. This one is perfect, because it covers all the expenses, apart for the Medicare part B deductible and is therefore not affected by the new law!

If you have needed health care services in the past time, you might have had to find out the hard way that your Medicare original part A and part B won´t cover for all expenses. In fact, in most cases you will be left paying some type of a coinsurance amount, copayment or deductible. Especially if you are planning on travelling further than 6 hours from US coast, it will not insure you and you will need to pay for the full amount of the health care services you might need. If so, the time has come to discover the Medicare supplement plan M and how you can benefit of it!

It covers for several expenses

The 2019 Medicare supplement plan will cover for the expenses you would otherwise need to pay for out of your own pocket. In these expenses, the following are included:

Expenses for the first three pints of blood (Medicare original cover for any pints of blood required after that)

Expenses for skilled nursing facility coinsurance

Expenses for part A hospice care coinsurance and copayment

Expenses for Medicare part B coinsurance and copayment

Expenses for Medicare coinsurance and hospital costs of Medicare part A

Expenses of the Medicare part A deductibles are covered up to 50%

The Medicare part A deductible which is covered up to 50% is an amount that the patient would need to pay each time they get attended to a hospital within a year.

What it doesn´t cover

There are two expenses, that aren´t covered by the Medicare supplement plan. There are plans out there who cover for these as well and if you find them to be important, you can look at other plans such as the supplement plan F. The Medicare supplement plan M will not cover for the Medicare part B deductible, which is currently 183$ a year. It also won´t cover for any excess charges of Medicare part B.

When choosing this plan, you should always compare the premium rate of different health insurance companies. Especially if you are not enrolling within the initial enrollment period, some companies might look at your current health state and previous conditions. Based upon these, your premium rate might be higher or lower. The initial enrollment period is a period of time, in which the health insurance companies aren´t allowed to look at your medical record for the purpose of basing your premium rate cost on this information. During this time, the health insurance company isn´t allowed to deny you from enrolling to the Medicare supplement plan M, which is why this is considered to be the best period to enroll.

All in all, it is a supplement plan that offers many benefits you can take advantage from. Once you know which expenses are covered, you will be able to go to the doctor´s office and require for the health care services you feel to be necessary, without having to worry about paying for the expenses out of your own pocket.

The Medicare supplement plans A and B are one of the two first available Medicare supplement plans. They don´t cover for as many expenses as other plans do, but are therefore less expensive. If you´re on Medicare part A or B and start noticing, that you´re paying more than you can afford out of your own pocket, you might be in the need to get additional health care services. A supplement plan can not only save you money in the long run, it can also help you control your expenses. It is better if you know how much you need to set aside for your premium rate, than to get unexpected high bills after a doctor´s visit.

If you´re not willing or able to pay high premium rates, you might want to check out the first two available Medicare supplement plans, A and B.

Medicare supplement plan A

The Medicare supplement plan A covers four basic benefits up to 100%. These benefits include:

Expenses for Medicare part A coinsurance for inpatient hospital care which extend to up to 365 days after Medicare part A or B no longer pay for the expenses.

Expenses for Medicare part B copayment and coinsurance

Expenses for the first three pints of blood

Expenses for Medicare part A coinsurance or copayments due to hospice care

The Medicare supplement plan A won´t cover for these expenses:

Expenses for the co-insurance for skilled nursing facility care

Expenses for the Medicare part A deductibles

Expenses for the Medicare part B deductibles

Expenses for the Medicare part B excess charges

Expenses for travel emergency care

Medicare supplement plan B

The Medicare supplement plan B covers for the following expenses:

Expenses for Medicare part B copayments and coinsurance

Expenses for the first three pints of blood

Expenses for the Medicare part A deductible

Expenses for the coinsurance and copayments for hospice care due to Medicare part A

After comparing what both these plans offer and what they don´t offer, it will be easier to decide if one of them works with your personal needs and the frequency of your health care visits.

It is important to remember that both these Medicare supplement plans, as well as all other Medicare supplement plans, will only be available to you if you already have Medicare part A or Medicare part B.

While Medicare part A and B are provided by Social Security directly, Medicare supplement plans are only offered by private health insurance companies. As these companies are private, they also have the right to determine how much the premium rate will cost. It is therefore recommended to compare the price for the premium rates, as it might cost more from company to company. The benefits will remain the same, no matter which company you use.